PACRA ASSIGNS 'aa' ASSET MANAGEMENT

INTRINSIC RATING TO ABAMCO LIMITED

 

Lahore: May 12, 2003

The Pakistan Credit Rating Agency (PACRA) has assigned 'aa' (Double a) Asset Management Intrinsic Rating to ABAMCO Limited indicating an excellent capacity to master the risks inherent in asset management.

Established in 1995, ABAMCO is a pioneer asset management company in the private sector, registered with the SECP as Investment Advisor for closed-ended funds and Asset Management Company for management of open-ended funds. A recognized player in the field of asset management, ABAMCO offers a range of asset management products adhering to several investment strategies with multiple risk/return profiles. Its marketing approach is characterized by transparency as regards asset management and active support for investors. ABAMCO's operating ratio reveals moderate and steady profitability with the vision to pursue high growth, diversification and product development. ABAMCO has produced an average return of 21.74 % annually vis-à-vis its flagship fund UTP, and 23.21 % in BBF. During the current financial year, ABAMCO has added two more open-ended funds in its family, the UTP-Income Fund and the UTP-Islamic Fund. Both the Funds have performed extremely well with UTP-Income Fund averaging a return of 11.01% from August 2002 to March 2003 and UTP-Islamic Fund averaging a return of 20.02% from December 2002 to March 2003. The performance of twelve ICP funds - since the acquisition of management rights - also testifies to the quality of ABAMCO's asset management skills.